Trend Micro Notice of Adjustments of Exercise Prices

Tokyo, Japan - February 26, 2001 - Trend Micro Inc. (NASDAQ:TMIC, Tokyo TSE:4704), a leading provider of antivirus and Internet content security software, today announced that the Company has decided to adjust the Exercise Prices in connection with its outstanding unsecured bonds with subscription warrants as follows:

1. Adjustments of the Exercise Prices

Name of Bonds

New Exercise Price
after Adjustment

Currently Effective
Exercise Price

1st series of unsecured bonds with subscription warrants

¥142.50

¥285

2nd series of unsecured bonds with subscription warrants

¥142.50

¥285

3rd series of unsecured bonds with subscription warrants

¥142.50

¥285

4th series of unsecured bonds with subscription warrants

¥3,200

¥6,400

5th series of unsecured bonds with subscription warrants

¥7,850

¥15,700

2. Effective Date:

New Exercise Prices will become effective from April 1, 2001.

3. Reason for the Adjustments:

The board of directors of the Company adopted, at its meeting held on February 15, 2001, the resolution in respect of the stock split.